News
Publication of the tenth Scheme Annual Report
The Scheme Advisory Board has today published the tenth Scheme Annual Report. The aim of this Annual Report is to provide a single source of information about the status of…Government publishes the Economic Activity of Public Bodies (Overseas Matters) Bill
The Government this week published a Bill to ban LGPS administering authorities from making investment decisions influenced by political and moral disapproval of foreign state conduct, except where this is…Letter from the Minister on governance and reporting of climate change risks in the LGPS
DLUHC have confirmed that implementation of climate reporting obligations would be delayed at least until next year. Presuming regulations are forthcoming in time for 1st April 2024, reports covering the…Audit issue 2021/22 – Pensions triennial valuations
Councils may be aware that the delay in finalising accounts for 2021/22 has meant that information from the March 2022 triennial valuations of pension funds has become available before the…‘McCloud’ remedy in the LGPS – supplementary issues and scheme regulations consultation
DLUHC has today launched a consultation that seeks views on changes to the Local Government Pension Scheme in England and Wales (LGPS). This follows a previous consultation that DLUHC undertook…Update to Employer Flexibilities Guidance Documents
The Board has decided to withdraw the Example Deferred Debt Agreement (Schedule A) that was available on our website in the Employer Flexibilities Guidance section. It has come to our…Climate risk reporting in the private sector – Review of first year reports
TPR have published a review of climate-related disclosures by occupational pension schemes. The paper sets out TPR’s preliminary observations and feedback to industry, based on their review of a selection of…Reform of Board Scheme Cost Assessment (SCA)
DLUHC has issued the final regulations and published its response to the consultation on reforming the SAB’s own parallel process for reviewing scheme cost. This is the process set out…Sharia Compliance Report Commissioned
The Board received legal advice which said that before an opinion could be given on whether LGPS was consistent with anti-discrimination and public sector equality duties, it was necessary to instruct…Cost Transparency Roadshows
The Scheme Advisory Board has set up a series of free regional training sessions for Local Pension Board, Committee members and fund officers on investment cost transparency.Sessions are being arranged…Treasury statement on SCAPE rate reduction and response to 2021 SCAPE consultation
Through a written ministerial statement from the Chief Secretary to the Treasury, the Government has announced that the Superannuation Contributions Adjusted for Past Experience (SCAPE) discount rate has been reduced…Sharia Compliance Report – Invitation to tender
The Board has received legal advice which suggests that it should instruct an expert in Islamic finance to provide evidence on a range of issues around Sharia Compliance in the…Government responds to McCloud consultation
The Department for Levelling Up, Communities and Housing (DLUHC) has published their response to the consultation on amendments to the underpin. The consultation proposed changes to the underpin to address…Climate risk reporting in the private sector – Review of first year reports
TPR have published a review of climate-related disclosures by occupational pension schemes. The paper sets out TPR’s preliminary observations and feedback to industry, based on their review of a selection…SAB statement on Freedom of Information Act requests on climate advice and data
Some funds have raised with the Board the increasing prevalence of requests for information about the responsible investment policies of administering authorities. These may come from interested scheme members or…GAD Gender Pensions Gap Report
The Gender Pay Gap Information Regulations 2017 put a requirement on employers with more than 250 employees to publish differences in pay between men and women. Analysis by the LGA…Spring Budget – Changes to pensions taxation
The Chancellor has announced some changes to pensions taxation in the Spring Budget. The Annual Allowance (which is the maximum amount of pensions savings an individual can make each year…Publication of Fire Brigades Union vs HM Treasury Cost Control Mechanism Judicial Review
The full judgment in the Fire Brigades Union vs HM Treasury Cost Control Mechanism Judicial Review has now been published. The High Court ruled in favour of HM Treasury on…
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